"JPMorgan Private Bank announced on Tuesday that it is offering a new lifestyle program for its wealthy U.S. clients, providing access to services like booking private jets and hiring household staff. Services also include financial reporting programs, bill pay, and bookkeeping. One service, for example, provides clients free access to Valerie Wilson Travel, a company JPMorgan acquired in 2022, for travel planning and advice. (JPMorgan did not name any other travel companies available through the network, but said that there was a wide range of firms offering exclusive services.) Another exclusive service involves maintaining and selling art collections."
"For JPMorgan clients, there is no additional fee to tap into the new services, according to the press release. The new programming is part of a wider industry trend where private banks are expanding beyond traditional investment and financial guidance. There is a growing trend among clients who want our advice outside of traditional wealth management," Sinclair told the outlet. Sinclair stated that the most requested services have been private jet travel, bill pay, and requests from business owners to help find health insurance plans for employees."
JPMorgan Private Bank launched a lifestyle program for wealthy U.S. clients that provides access to luxury and household services including private jet booking, household staffing, travel planning through Valerie Wilson Travel, art collection maintenance and sales, bill pay, bookkeeping, and financial reporting programs. Clients can use the services without an additional fee. The program reflects a broader shift of private banks expanding beyond traditional investment advice to include concierge-style offerings. Top client requests include private jet travel, bill payment services, and assistance sourcing health insurance plans for employees. The program will add more features over time.
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